Wednesday, June 24, 2015

1MDB confident probe into former PetroSaudi exec will be conducted thoroughly

1Malaysia Development Berhad (1MDB) will co-operate with authorities and are confident that the probe on the arrested former PetroSaudi staff will be conducted thoroughly.

"1MDB notes press reports on Wednesday on the arrest of a former PetroSaudi staff for attempted blackmail and extortion in relation to proprietary email information belonging to PetroSaudi. We further note that initial probes show that some leaked emails were tampered with," Wednesday's statement read.

"1MDB is confident that the lawful authorities will thoroughly investigate, establish the facts and take appropriate action under the law. As stated previously, 1MDB pledges its full co-operation with the lawful authorities in their ongoing investigations on this matter," it said.

On Wednesday, the Bangkok Post quoted acting commander of the Royal Thai Police’s Crime Suppression Division, Pol Col Akaradech Pimonsri said that Former PetroSaudi exec Xavier Justo, 49, was paid the equivalent of 140mil baht (RM15.51mil) to leave the company after he was found to have “behaved against the company’s rules and regulations."

Pimonsri also accused the former IT executive of demanding another 90mil bath (RM9.98mil) from the company in exchange for not disclosing confidential information to rival companies.

Justo was arrested at a house at Koh Samui on Monday, allegedly for leaking information information to the London-based Sarawak Report website for several reports about 1Malaysia Development Berhad (1MDB). Justo has denied the allegations.

On Tuesday, PetroSaudi said that they had been "the victims of a regrettable crime that has unfortunately been politicised in Malaysia" via a press statement. PetroSaudi added that they are happy to "finally set the record straight."

PetroSaudi had become embroiled in the 1MDB controversy after a joint-venture deal between the two companies was said to have been orchestrated by business tycoon Low Taek Jho.

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